Makita (OTCMKTS:MKTAY) Shares Gap Down – Here’s What Happened

Shares of Makita Corp. (OTCMKTS:MKTAY) gapped down prior to trading on Wednesday . The stock had previously closed at $30.89, but opened at $29.27. Makita shares last traded at $31.5260, with a volume of 6,364 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Makita from a “buy” rating to a “hold” rating in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Makita presently has a consensus rating of “Buy”.

Makita Stock Performance

The company’s 50-day moving average price is $30.07 and its 200 day moving average price is $31.58. The stock has a market capitalization of $8.19 billion, a PE ratio of 15.15 and a beta of 0.52.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Makita had a net margin of 10.72% and a return on equity of 8.53%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Analysts expect that Makita Corp. will post 1.56 earnings per share for the current year.

Makita Company Profile

Makita Corporation (OTCMKTS:MKTAY) is a global manufacturer of professional and consumer power tools headquartered in Anjō, Aichi Prefecture, Japan. Founded in 1915 as an electric motor sales and repair company, it incorporated as Makita Electric Works, Ltd. in 1958 and has since expanded its product portfolio to serve both industrial and residential markets. The company’s core business activities encompass the design, production and distribution of power tools, outdoor power equipment and accessories.

Makita’s product lineup includes cordless and corded electric drills, drivers, saws, grinders, sanders and rotary hammers, as well as pneumatic and gasoline-powered machinery.